Nifty Midcap 150 falls 7% in September; 87% of stocks decline

India's Nifty Midcap 150 index has fallen nearly 7% in September 2026, with 87% of its stocks showing losses, after a sharp rally earlier in the year. The index now trades below its 200-day moving average at 21,870 levels, with PB Fintech leading losers at down 39% following regulatory changes. Analysts warn of further declines if leveraged positions unwind, though some recommend buying dips. The midcap fall outpaced the Nifty 50's 6% decline and smallcap's 3.5% drop. Key support sits at 21,550, with upcoming corporate results seen as crucial for market direction.